Two admirable journalists write about the agreement reached last Saturday by the Great Powers (“P5+1”) with the evil Iranian regime, both comparing it to the agreement Neville Chamberlain thought he had secured with Adolf Hitler in 1938.

To adapt Churchill : Never in the field of global diplomacy has so much been given away by so many for so little.

Britain and France’s capitulation to Nazi Germany at Munich has long been a byword forignominy, moral and diplomatic. Yet neither Neville Chamberlain nor Édouard Daladier had the public support or military wherewithal to stand up to Hitler in September 1938. Britain had just 384,000 men in its regular army; the first Spitfire aircraft only entered RAF service that summer. “Peace for our time” it was not, but at least appeasement bought the West a year to rearm.

The signing of the Paris Peace Accords in January 1973 was a betrayal of an embattled U.S. ally and the abandonment of an effort for which 58,000 American troops gave their lives. Yet it did end America’s participation in a peripheral war, which neither Congress nor the public could indefinitely support. “Peace with honor” it was not, as the victims of Cambodia’s Killing Fields or Vietnam’s re-education camps can attest. But, for American purposes at least, it was peace.

By contrast, the interim nuclear agreement signed in Geneva on Sunday by Iran and the six big powers has many of the flaws of Munich and Paris. But it has none of their redeeming or exculpating aspects.

Consider: Britain and France came to Munich as military weaklings. The U.S. and its allies face Iran from a position of overwhelming strength. Britain and France won time to rearm. The U.S. and its allies have given Iran more time to stockpile uranium and develop its nuclear infrastructure. Britain and France had overwhelming domestic constituencies in favor of any deal that would avoid war. The Obama administration is defying broad bipartisan majorities in both houses of Congress for the sake of a deal.

As for the Vietnam parallels, the U.S. showed military resolve in the run-up to the Paris Accords with a massive bombing and mining campaign of the North that demonstrated presidential resolve and forced Hanoi to sign the deal. The administration comes to Geneva fresh from worming its way out of its own threat to use force to punish Syria’s Bashar Assad for his use of chemical weapons against his own people.

The Nixon administration also exited Vietnam in the context of a durable opening to Beijing that helped tilt the global balance of power against Moscow. Now the U.S. is attempting a fleeting opening with Tehran at the expense of a durable alliance of values with Israel and interests with Saudi Arabia. …

That’s where the differences end between Geneva and the previous accords. What they have in common is that each deal was a betrayal of small countries — Czechoslovakia, South Vietnam, Israel — that had relied on Western security guarantees. Each was a victory for the dictatorships: “No matter the world wants it or not,” Iranian President Hasan Rouhani said Sunday, “this path will, God willing, continue to the peak that has been considered by the martyred nuclear scientists.” Each deal increased the contempt of the dictatorships for the democracies: “If ever that silly old man comes interfering here again with his umbrella,” Hitler is reported to have said of Chamberlain after Munich, “I’ll kick him downstairs and jump on his stomach.”

And each deal was a prelude to worse. After Munich came the conquest of Czechoslovakia, the Nazi-Soviet pact and World War II. After Paris came the fall of Saigon and Phnom Penh and the humiliating exit from the embassy rooftop. After Geneva there will come a new, chaotic Mideast reality in which the United States will lose leverage over enemies and friends alike.

What will that look like? Iran will gradually shake free of sanctions and glide into a zone of nuclear ambiguity that will keep its adversaries guessing until it opts to make its capabilities known. Saudi Arabia will move swiftly to acquire a nuclear deterrent from its clients in Islamabad; Saudi billionaire Prince Alwaleed bin Talal made that clear to the Journal last week when he indiscreetly discussed “the arrangement with Pakistan.” Egypt is beginning to ponder a nuclear option of its own while drawing closer to a security alliance with Russia.

As for Israel, it cannot afford to live in a neighborhood where Iran becomes nuclear, Assad remains in power, and Hezbollah — Israel’s most immediate military threat — gains strength, clout and battlefield experience. The chances that Israel will hazard a strike on Iran’s nuclear sites greatly increased since Geneva. More so the chances of another war with Hezbollah.

After World War II the U.S. created a global system of security alliances to prevent the kind of foreign policy freelancing that is again becoming rampant in the Middle East. It worked until President Obama decided in his wisdom to throw it away. If you hear echoes of the 1930s in the capitulation at Geneva, it’s because the West is being led by the same sort of men, minus the umbrellas.

The article is valuable as an erudite and accurate assessment of the Geneva sell-out. But Stephens’s visualization of what the “after Geneva” Middle East will look like, bad though it is, is too mild. We predict that Iran will become armed with nuclear weapons and will use them.

America and Europe’s overwhelming desire to declare a deal meant that there had to be a deal to declare. The P5+1 countries, with the ludicrous Catherine Ashton speaking for Europe, have indeed made a historic and terrible mistake.

The mullahs did not come to Geneva because they wished to give up their capability. And they did not come to the table because after 34 years of revolutionary Islamic governance they have seen the error of their ways. They came because international sanctions were beginning to hurt. Those sanctions – which took years to put in place – have now fallen apart thanks to a few days of incompetent negotiating on the part of the P5+1 plus some simple common sense from Tehran. People tend to say at this stage that the Iranians are ‘master negotiators’. They aren’t especially. They are simply fortunate to be playing against Catherine Ashton and a generation of other weak and short-sighted American and British politicians.

The result is that the Iranian regime has managed to walk away with a deal to relieve the pressure of sanctions at the very moment that the pressure was working and the very moment that it should have been kept up and ultimately used to break them. They now have the breathing hole they need to reinforce their power at home and continue their search for nuclear weaponry.

At the root of this debacle is the fact that the Iranians went into the sanctions knowing exactly what they wanted: time and the bomb. The P5+1 countries, by contrast, were riddled by doubt and muddled thinking.

There should only ever have been two aims with regard to the Iranian regime.

The first is to ensure that it never ever gains the capability to develop nuclear weapons: not only to ensure that the world’s most destabilising regime never possesses the world’s most dangerous weaponry, but to ensure that it cannot precipitate a nuclear arms race across the Middle East.

The second aim, and one which appears to have slipped even further down any international agenda, is to see the end of the brutal rule of the mullahs. Sadly this does not even appear to be on the table any more. Ever since President Obama failed to come out in support of the brave Iranian protestors who rose up in 2009, the basic human rights of the Iranian people have been ignored utterly. So what that the regime promotes terror around the world? So what that it oppresses, rapes, tortures and executes its opponents at home? By negotiating with this regime and allowing it off the hook at this moment America, Britain and our allies have not only given a stay of execution to the mullahs, we have further undermined the hopes of any opponents of the regime inside Iran.

I was watching and listening to [British foreign secretary] William Hague earlier today and I must say that it was a pathetic experience: a diminished figure trying to persuade a sceptical nation to support a demeaning deal. All he lacked was a winged collar, a piece of paper and the slogan: ‘nuclear peace in our time.’